Boston-based SaaS fintech Digital Onboarding has secured $58 million in funding from Volition Capital.
Digital Onboarding has developed an engagement platform tailored for banks and credit unions to enhance and service existing customer relationships. The company assists clients in connecting with customers through targeted, journey-based communication and action-oriented microsites, aiming to strengthen account engagement.
The platform features a comprehensive library of campaigns and incorporates both proprietary and third-party widgets, making it easy to integrate with microsites, bank landing pages, and digital banking apps.
With over 100 clients, Digital Onboarding plans to utilize the new funds to nearly double its workforce and enhance its offerings in areas such as segmentation and profile management, marketing attribution, machine learning, and embedded fintech capabilities.
Ted Brown, CEO of Digital Onboarding, stated: “Banks and credit unions are advancing in digital maturity, with many implementing online banking and developing effective customer acquisition campaigns. However, digital transformation frequently falters at the onboarding phase of the new customer or member lifecycle.”
He added, “Financial institutions have a significant opportunity to streamline the enrollment and setup processes for deposit, payment, and other services. Making these processes as simple and user-friendly as possible has a measurable, positive impact on customer retention and loyalty.”